By : Business Editor
Jordan Daily - MS Pharma said on Monday that Olayan Financing Company (OFC) had acquired a minority stake in the company through a cash investment aimed at supporting the drugmaker’s expansion in Saudi Arabia and the wider MENA region.
The transaction involves MS Pharma issuing new shares to OFC, strengthening the company’s financial position as it seeks to expand its biosimilars portfolio, manufacturing capabilities, and supply chain resilience across the region, MS Pharma noted in a statement seen by Jordan Daily.
“We are delighted and honored to welcome OFC as partners in the company,” MS Pharma Chairman Ghiath Sukhtian said. “Their global operational and investing expertise, as well as their deep roots in KSA, will add significant value to MS Pharma and benefit all our stakeholders.”
Kalle Känd, CEO of MS Pharma said the investment comes at “an exciting inflection point” for the company and would help accelerate growth in biologics and biosimilars across Saudi Arabia and the broader MENA market.
“MS Pharma has established itself as a leading pharmaceutical platform in the region, with strong capabilities across generics and biologics,” OFC Chief Executive Nabeel Al-Amudi said.
The partnership builds on MS Pharma’s growing presence in Saudi Arabia, where its biologics facility became the first in the kingdom to receive SFDA GMP approval for biologics manufacturing. The company said it also plans this year to become the first supplier of locally manufactured biologics to the Saudi market, supporting the kingdom’s Vision 2030 and National Biotechnology Strategy.
Headquartered in Amman, with management offices in Zug, Switzerlandm, MS Pharma operates five manufacturing facilities across Jordan, Algeria, and Saudi Arabia and employs more than 2,000 people across 12 countries.
